Marck Biosciences, Ahmedabad based pharma company, is investing Rs 72 crore at its existing Kheda facility towards creating additional capacity of Large Volume Parenteral (LVP) and Small Volume Parenteral (SVP). The company is also setting up a modern formulation plant and development centre along with a state of the art laboratory and training HR centre.
Talking with Pharmabiz, Bhavesh Patel, managing director, said, "To meet growing need of domestic and international players we are significantly adding to our capacities. These investments will expand our CRAMS client base in both domestic as well as international market. We expect to achieve 40 per cent growth in CRAMS business in the current year."
The company is undertaking CRAMS business for the both LVP and SVP for 48 major companies in India and also for some major international pharma companies. Marck's customer base in contract manufacturing includes companies like Dr Reddy's, Torrent, Cadila, Themis, Zydus, Shreya, Glenmark, Ranbaxy, Sun Pharma, FDC, Macleods, Intas, Lupin and international customers from USA, South East Asia and Africa.
Indian companies are proving better at developing APIs than their competitors from target markets and that too with non-infringing processes. CRAMS market in India was valued at $532.10 million in 2005 and is expected to reach $ 900 million by 2010. In the financial fiscal 05-06, the company has generated 34 per cent sales revenue from the CRAMS activity.
"We are targeting 150 per cent growth in the FY 2007-08. Presently, our turnover is at around Rs 40 crore and by the end of next financial year we aim to reach the turnover of Rs 100 cr. Currently, we are in the process of getting our registration to operate in more international markets. Once that process is over, we would be looking at tie-ups for both contract manufacturing and distribution of our own products. In advance markets, we would have partnering for specialised products", he further added.
Marck Biosciences has evolved into a company with business interests in production of irrigation solutions, formulations in ophthalmic and respiratory care and small volume injectibles. Marck Biosciences is amongst the few Indian pharma companies who have geared their production facility to become a versatile manufacturer of 0.5ml injectibles to 1000ml irrigation solutions. The company would enable to expand the product basket in sterile dosages.